TOPIC: Scheduled price drop a scare tactic aimed at diggers?

So there has been some talk of a potential price drop in the near future which obviously does not reflect the actual demand in my opinion. Ginseng supply is down this year which has obviously driven the prices up. Big buyers fear that as some have mentioned on here, seng will come out of the woodwork when the price hits say $800lb on average which is why I believe they have staged a scheduled price drop in an attempt to scare out any diggers who fear losing an opportunity at a decent market price. For me, I will hold my 4 lbs until late November when the supply vs demand ratio will unavoidably be realized in the market price. HOLD ON TO YOUR SENG EVERYONE! If everyone does panic and flood the market, we may potentially shoot ourselves in the foot by caving into the game the big players have planned. Like huntsman has said many times before, it is vital that us diggers stick together so that we can ensure a good price for everyone.

your are right they do that to get every 1 to think its going dwn so they will sell im like you my 7 lbs will stay in my hands til late nov and if it drops it will go in storage til i get a good price for it .

hunz, Well stated! Every market has jitters and ups and downs but I talked to 2 dealers tonight and neither indicated a price drop. One even indicated that Ginseng had hit $1,000 or better in New York and if so, then Vermont will follow close behind and effect prices down range (that is southward). I will be sure to keep checking but feel that any price drop right now, may be due to market jitters or scare tactics.


Frank

Yeah, im almost sure that ginseng will probably set new record highs this year, all of the poachers sold early, didn't get their usual supply due to the extreme weather conditions in most parts of the country. Tn and Ky who usually lead the country in poundage will turn in low numbers, this in turn will throw up a red flag to the DNR and they will ask the Division of Scientific Athourity to do a study and they in Their infinate Wisdom google their own previous studies and other outdated ramblings that have been posted on line and will conclude that ginseng must be shrinking in average size much like fish in a overstocked pond and they will once again raise the age of ginseng to 10yr old minimum 9bud scars, this will trigger many meetings and conferences and laws and bills will be introduced to ban all wild ginseng harvesting, then BCastle will ask them to define what is wild and what is woodsgrown and what is wild simulated and then more studies and googling and ect...ect...the visious cycle never ends...... j/k brad...

Just can't help but put my two cents in here. 1st let me say that I have no immediate plans of lowering prices and am holding steady at the moment. Secondly I want to say that I agree with Frank that possibly market jitters may be part of the reason for some dealers to lower prices, but also may be strategy by international dealers (Exporters). I dont think that it is so much a scare tactic as much as just a way to get the same amount of root for a set price. For instance if a buyer is comfortable and willing to pay an average of $650/lb and that is where the price is then by lowering the price to $600 until they buy half of the amount they want then allows them to raise the price up to $700 for the remaining half and still only pay $650 on average, and actually be able to go beyond $700 because of the amount of ginseng that is bought in between six and seven hundred on the way back up.
These amounts are fictional just for the purpose of demonstrating my point. I truly don't know how high prices will go, but from my perspective I believe that the ceiling is within sight.

K_duce wrote:

then BCastle will ask them to define what is wild and what is woodsgrown and what is wild simulated and then more studies and googling and ect...ect...the visious cycle never ends...... j/k brad...

ROFL too funny

There has been more ginseng coming in this year than was expected. This is probably one of the reasons for a price lull.
I'm waiting on a call today, to see where the prices are at in Ky.

rootman

remember diggers that you say you will hold out for the price you want, well dont you think a dealer has his price that he will pay no more than.if a man has his mind set to only pay up to say 750 then i dont think you will chnge his mind by holding a few pounds of ginseng

I understand that a lot of folks dig this for income and maybe their only income but I'm afraid that money has destroyed our very appreciation of the life we live. I told my girlfriend while she was jabbing me about \"spending so much time digging a dirty old root\" that if I make a $100 doing something I like, its 100 well earned. To me its like someone reaching me a 50 for catching a 30lb flathead. I got my money's worth by finding the plant and enjoying the things that the Creator has given us. Digging Seng is hard work and should be rewarded but we know when we take the first trip in the hills that someone far away from here will ultimately decide how much they pay for it and its up to you to decide what you'll take for it. The fact that we make anything at all off a plant that was put here for everyone's use is kinda like becoming a millionaire for selling bottled water or bottled oxygen. I understand people making a living and needing to pay bills but for me there's a payment in finding the plant just to dig. I don't mean to step on anyone's toes or rub anyone the wrong way, I just think that money growin in the ground is something we should all be happy about.

GibsonGranada wrote:

well put Gibson. that's how I look at it too. I understand that everyone wants to get as much as they can, but if a person doesn't enjoy senging there are a lot of other ways to make money. I just love the hunt.... I make much better money working at a factory, but really can't say that I enjoy it at all....

I understand that a lot of folks dig this for income and maybe their only income but I'm afraid that money has destroyed our very appreciation of the life we live. I told my girlfriend while she was jabbing me about \"spending so much time digging a dirty old root\" that if I make a $100 doing something I like, its 100 well earned. To me its like someone reaching me a 50 for catching a 30lb flathead. I got my money's worth by finding the plant and enjoying the things that the Creator has given us. Digging Seng is hard work and should be rewarded but we know when we take the first trip in the hills that someone far away from here will ultimately decide how much they pay for it and its up to you to decide what you'll take for it. The fact that we make anything at all off a plant that was put here for everyone's use is kinda like becoming a millionaire for selling bottled water or bottled oxygen. I understand people making a living and needing to pay bills but for me there's a payment in finding the plant just to dig. I don't mean to step on anyone's toes or rub anyone the wrong way, I just think that money growin in the ground is something we should all be happy about.